Harsh Kumar Mehta
Consultant In Labour Laws/hr
Management Coach I Hr Strategist I Career
13th December 2015 From India, Noida
You can't cover employees earning more than 15000 gross under ESI in case of normal employees but in case of disabled employees the limit is 25000/-. In disabled employees case employer is exempted from payment of employer contribution for a maximum period of 3 years.
However if you want to give some insurance/Medical benefits to the excluded employees then go for some mediclaim policy. For this you may contact insurance companies which are offering mediclaim policy.
Pls note :To offer mediclaim policy certain minimum numbers of employees are required by respective insurance companies. Most of the companies offers mediclaim when there are more employees say 100/500/1000. There are only 2-3 companies which offer mediclaim even for 10 employees. You may search from Internet.
There is another way where you can make the employees (earning more than 15k) feel that they are insured. Deduct PF from all. In PF, employer contributes 13.61% of basic actually, out of which 0.5% is towards EDLI.
EDLI is employees deposit linked insurance scheme where employee will be entitled for death and accidental benefits upto 3.6 lac. Proposal for increase of limit to 5.5 lac has already been raised.
Hope this will be helpful for you.
14th December 2015 From India, Delhi
Mr Harsh and Mr. Sujan have given the best option to you. Mr. Sujan has explained in detail how you can benefited your employee in double way by covering under PF. The employee will have saving on account of PF (which is the most economic and higher interest getting tool-option) for their retirement/future plan. Moreover, it provide Pension as well (to the member after 10 years job & attaining age of 58, to the family in case of death). In future the Insured amount under EDLI is expected to increased. For detail pls contact some consultant or PF Authorities.
But Mr Sujan, pls note the Employer Contribution has now revised from 13.61% to 13.36%.
The admin. charges are now .85% instead of 1.10%. Though the EDLI is same as mentioned by you.
16th December 2015 From India, Delhi